Investors Buy Eli Lilly and Co. (LLY) on Weakness
Traders purchased shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading on Monday. $51.32 million flowed into the stock on the tick-up and $29.80 million flowed out of the stock on the tick-down, for a money net flow of $21.52 million into the stock. Of all equities tracked, Eli Lilly and had the 19th highest net in-flow for the day. Eli Lilly and traded down ($0.34) for the day and closed at $80.22
A number of equities research analysts have weighed in on LLY shares. Vetr lowered Eli Lilly and from a “strong-buy” rating to a “buy” rating and set a $85.08 price objective for the company. in a research note on Monday, April 18th. Credit Suisse Group AG restated a “buy” rating and set a $91.00 price objective on shares of Eli Lilly and in a research note on Wednesday, July 6th. Jefferies Group raised their price objective on Eli Lilly and from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. TheStreet upgraded Eli Lilly and from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, June 15th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $96.35.
The company has a 50-day moving average price of $80.48 and a 200-day moving average price of $75.90. The firm has a market cap of $84.56 billion and a price-to-earnings ratio of 34.46.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.86. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.14 billion. Eli Lilly and’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. Equities research analysts predict that Eli Lilly and Co. will post $3.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Eli Lilly and news, insider Donald A. Zakrowski sold 1,213 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $83.16, for a total transaction of $100,873.08. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $108,108. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 205,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $82.94, for a total transaction of $17,002,700.00. Following the transaction, the insider now owns 125,775,804 shares of the company’s stock, valued at $10,431,845,183.76. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Parsons Capital Management Inc. RI increased its position in Eli Lilly and by 1.3% in the fourth quarter. Parsons Capital Management Inc. RI now owns 53,289 shares of the company’s stock worth $4,490,000 after buying an additional 703 shares in the last quarter. Suntrust Banks Inc. increased its position in Eli Lilly and by 16.8% in the fourth quarter. Suntrust Banks Inc. now owns 255,833 shares of the company’s stock worth $21,554,000 after buying an additional 36,887 shares in the last quarter. Navellier & Associates Inc increased its position in Eli Lilly and by 21.6% in the fourth quarter. Navellier & Associates Inc now owns 17,411 shares of the company’s stock worth $1,467,000 after buying an additional 3,091 shares in the last quarter. Cypress Asset Management Inc. TX increased its position in Eli Lilly and by 2.1% in the fourth quarter. Cypress Asset Management Inc. TX now owns 91,002 shares of the company’s stock worth $7,668,000 after buying an additional 1,850 shares in the last quarter. Finally, Ashburton Jersey Ltd acquired a new position in Eli Lilly and during the fourth quarter worth approximately $7,411,000.
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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